Kaupthing Edge, Should I Avoid?

Andrew64

Stompa wrote: »

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/3136795/Iceland-lines-up-bank-rescue-deal.html

"This weekend, Singer & Friedlander, the UK arm of Kaupthing, was approached by several parties offering to open takeover talks."

alared

Stompa wrote: »

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/3136795/Iceland-lines-up-bank-rescue-deal.html

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4883097.ece

No smoke without fire

MABLE

I started to panic a little yesterday and I was thinking of withdrawing my savings. However as my savings are FULLY protected by the UK compensation scheme I see no reason to move them.

alared

MABLE wrote: »

I started to panic a little yesterday and I was thinking of withdrawing my savings. However as my savings are FULLY protected by the UK compensation scheme I see no reason to move them.

Read post number 138,Mable

mobfant

alared wrote: »

Read post number 138,Mable

Read the quote that says they'll give you 30 days notice if they move to the other scheme. So, covered (from Tuesday) up to £50,000 by the UK scheme. I'm moving more money across into Kaupthing as soon as that scheme's up and running.

alared

mobfant wrote: »

Read the quote that says they'll give you 30 days notice if they move to the other scheme. So, covered (from Tuesday) up to £50,000 by the UK scheme. I'm moving more money across into Kaupthing as soon as that scheme's up and running.

In the current climate things happen so quickly a lot of what is "supposed" to happen very often doesn`t.

I agree,where you want to put your cash is entirely your own business.

tpl288

Kaupthing's CDS is now at 27%, this is the insurance cost that banks/institutions pay for any loans they make to Kaupthing (to insure Kaupthing defaulting on its loans). They should at least increase the reward to savers to compensate what the markets are pricing in the risk of Kaupthing defaulting.:eek:

When I spoke to their call centre, I can hear in the background lots of people trying to withdraw money.

noh

tpl288 wrote: »

Kaupthing's CDS is now at 27%, this is the insurance cost that banks/institutions pay for any loans they make to Kaupthing (to insure Kaupthing defaulting on its loans). They should at least increase the reward to savers to compensate what the markets are pricing in the risk of Kaupthing defaulting.:eek:

When I spoke to their call centre, I can hear in the background lots of people trying to withdraw money.

Actually its 62.5% but why worry?

http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSL356920820081003

tpl288

noh wrote: »

Actually its 62.5% but why worry?

http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSL356920820081003

Wow, the lenders to Kaupthing must be sh*tting themselves now, american investors and japanese investors of their bonds must be looking to invoke conditions to get their loans repaid. :eek:

prudryden

So -
How long does it take to obtain your funds should the guarantee scheme be activated?
Does the guarantee scheme include interest not paid while you are waiting for the guarantee to take force and start remitting funds which, I understand could be months rather than weeks?